BNY Mellon Nears Settlement on Part of Suit

By

Michael Rothfeld And

Jean Eaglesham

January 11, 2012

Bank of New York Mellon Corp. is close to settling part of a lawsuit filed by federal prosecutors that accused the bank of fraudulently overcharging clients for currency trades, according to a court filing and people familiar with the matter.

Manhattan U.S. Attorney Preet Bharara is seeking damages of hundreds of millions of dollars as part of the suit; negotiations on that request and other aspects of the case will continue, the...